A distinctive feature of contemporary globalization in business regulation has been
the emergence, across the diverse fields of economic and business law, of regulatory
“networks” involving routinized transnational cooperation—both formal and
informal—between institutional actors. The resulting global web of regulatory
networks has transformed the legal environment in which business enterprises
now operate. The classic liberal system of nation states coordinating activities at
the government level has been displaced by a more fragmented system of multilevel
networked governance in which new institutional and normative forms have
proliferated, and which state sovereignty is increasingly disaggregated. As a consequence
of the emergence of regulatory networks, the contemporary global legal
order is more uncertain, de-centred and interconnected as the multiplicity of
regulatory networks creates unprecedented coordination problems and increasingly
complex interactions between legal orders.
The intention of this book is to bring together scholars from different fields of
economic and business law in order to map this emerging order of transnational
regulatory networks. The book seeks to identify the main actors within a range of
different networks and to identify and evaluate the diverse functions performed by
such networks. Moreover, since networks raise a number of normative concerns
(e.g. domination by experts, lack of transparency and circumvention of traditional
democratic procedures/sources of legitimacy), networked governance requires a
new normative foundation. Finally, the book will examine the meaning, value and
limits of the “network concept” as an analytical tool for understanding and critically
evaluating the emergent transnational regulatory order.
This book has its origins in a conference organized on this issue by the Faculty of
Law, Kyushu University in Fukuoka, Japan in February 2013. We are particularly
grateful to Professor Toshiyuki Kono and the Faculty of Law for providing the
financial support to have made this event possible, and to the students of the LL.M.
and LL.D. programs in International Economic and Business Law, Kyushu
University for their logistical help and participation.